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For a cash-out refi on a home the borrower lives in, generally, the lowest credit score is 640, according to Fannie Mae's standards. But such a loan comes with caveats. The borrower can't have an LTV ratio higher than 75%, must have 6 months of reserves in the bank and a debt-to-income ratio of 36% or lower.
â six (6) full months must have passed since the first payment due date of the original mortgage. â 210 days must have passed from the closing date of the original mortgage. Also note that no cash out can be taken out via a FHA streamline refinance. Only rate and term refinances work here.